Jana Small Finance Bank RD Rates 2025 – Know Before You Invest
Jana Small Finance Bank offers competitive interest rates on its Recurring Deposit (RD) schemes, making it an attractive option for individuals seeking disciplined savings with assured returns. The interest rates vary based on the tenure and the depositor's age group. For general customers, the rates range from 4.00% to 8.25% per annum, while senior citizens enjoy a 0.50% higher rate across all tenures.
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Jana Small Finance Bank was established on 28 March 2018 and is headquartered in Bengaluru, Karnataka. The Reserve Bank of India issued licence to this bank under Section 22 of the Banking Regulation Act, 1949.
The Jana Small Finance Bank offers wide array of products in terms of accounts, loans, cards, and deposits. One of the products offered by this bank is Recurring Deposits (RD).
The RD offered by small finance bank offers a starting interest rate of 6.00%. Read on to know more about the recurring deposit offered by the bank.
Recurring Deposit Interest Rates for Senior Citizens
Tenure | Regular RD* Current Rate | Senior RD* Rate |
> 1 month - 6 months | 6.00% | 6.60% |
> 6 months - 12 months | 8.00% | 8.60% |
> 12 months - 23 months | 8.00% | 8.60% |
= 24 months | 8.50% | 9.10% |
> 24 months - 36 months | 8.00% | 8.60% |
> 36 months - 60 months | 8.00% | 8.60% |
> 60 months - 120 months | 6.75% | 7.35% |
Features and Benefits of Jana Small Finance Bank Recurring Deposit
The following are the features and benefits of Jana Small Finance Bank RD
- There is no upper limit on investment amount
- Senior citizens get additional interest rate benefit of 0.60%
- The customer gets a grace period of five days on missing the deposit installment
- The deposit amount can be as small as Rs.100
- Premature withdrawal of recurring deposit is allowed
- Flexible tenure options are available for recurring deposit
- The customer can book a recurring deposit online through mobile or internet banking
- The minimum tenure of recurring deposit is 6 months and the maximum tenure is 10 years
Documents Required to Apply for Jana Small Finance Bank Recurring Deposit (RD)
The following documents are required to apply for a recurring deposit:
- Identity proof - Aadhaar card, PAN card, Passport, etc.
- Address proof - Electricity bill, water bill, Aadhaar card, etc.
- Passport size photographs
- FATCA Declaration which is part of the account opening form
- Application form
How to Apply for a Recurring Deposit with Jana Small Finance Bank
You need to visit the nearest Jana Small Finance bank’s branch to apply for a recurring deposit offline. You can book the recurring deposit online through mobile or internet banking.
You can also reach the bank on toll free number 1800 2080.
FAQs on Jana Small Finance Bank RD Rates
- What is the minimum tenure of Jana Small Finance Bank recurring deposit?
The minimum tenure of Jana Small Finance Bank recurring deposit is six months.
- What is the difference between fixed deposit and recurring deposit?
In fixed deposit, the lump sum amount is invested in one go. However, in recurring deposit, the amount is invested gradually at regular intervals.
- How much is the penalty on premature withdrawal of the recurring deposit?
A penalty of 0.5% is charged on premature withdrawal of the recurring deposit.
- How much is the minimum deposit amount for recurring deposit?
The minimum deposit amount for recurring deposit is Rs.100.
- Is premature withdrawal of recurring deposit allowed at Jana Small Finance Bank?
Yes, premature withdrawal of recurring deposit is allowed at Jana Small Finance Bank
- Do senior citizens get any additional benefits on Jana Small Finance Bank recurring deposit?
Yes, the senior citizens get an additional interest rate benefit of 0.95% on Jana Small Finance Bank recurring deposit.
- Can I apply for Jana Small Finance Bank recurring deposit online?
Yes, the Jana Small Finance Bank does provide the facility to apply for recurring deposit online through mobile or internet banking.
- Does Jana Small Finance Bank provide overdraft facility?
No, the Jana Small Finance Bank does not provide its customers with overdraft facility.
- Is nomination facility available with Jana Small Finance Bank recurring deposit?
No, nomination facility is not available with the Jana Small Finance Bank recurring deposit.
- Do the customers get a grace period on missing the recurring deposit installment?
Yes, the customers get a grace period of five days on missing the recurring deposit installment.
- Does the Reserve Bank of India hold the right to close my recurring deposit?
Yes, the Reserve Bank of India hold the right to close your recurring deposit if you miss the deposit installment five consecutive times.
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